PACCAR Inc (NASDAQ:PCAR) Shares Sold by Everett Harris & Co. CA

Everett Harris & Co. CA lowered its stake in PACCAR Inc (NASDAQ:PCAR) by 2.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 12,820 shares of the company’s stock after selling 329 shares during the quarter. Everett Harris & Co. CA’s holdings in PACCAR were worth $1,252,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. FORVIS Wealth Advisors LLC increased its holdings in shares of PACCAR by 0.5% in the 4th quarter. FORVIS Wealth Advisors LLC now owns 22,097 shares of the company’s stock valued at $2,158,000 after purchasing an additional 109 shares during the period. CIBC Private Wealth Group LLC increased its holdings in shares of PACCAR by 1.9% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 6,654 shares of the company’s stock valued at $557,000 after purchasing an additional 124 shares during the period. Dorsey & Whitney Trust CO LLC increased its holdings in shares of PACCAR by 0.9% in the 3rd quarter. Dorsey & Whitney Trust CO LLC now owns 14,478 shares of the company’s stock valued at $1,231,000 after purchasing an additional 124 shares during the period. Penserra Capital Management LLC increased its holdings in shares of PACCAR by 8.2% in the 1st quarter. Penserra Capital Management LLC now owns 1,653 shares of the company’s stock valued at $145,000 after purchasing an additional 125 shares during the period. Finally, ST Germain D J Co. Inc. increased its holdings in shares of PACCAR by 61.9% in the 3rd quarter. ST Germain D J Co. Inc. now owns 340 shares of the company’s stock valued at $29,000 after purchasing an additional 130 shares during the period. Institutional investors and hedge funds own 64.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on PCAR shares. The Goldman Sachs Group boosted their price target on PACCAR from $93.00 to $106.00 and gave the company a “neutral” rating in a research note on Wednesday, January 24th. Bank of America raised PACCAR from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $84.00 to $97.00 in a research note on Friday, January 19th. Morgan Stanley started coverage on PACCAR in a research note on Monday, January 8th. They issued an “overweight” rating and a $125.00 price target for the company. TD Cowen boosted their price target on PACCAR from $91.00 to $108.00 and gave the company a “market perform” rating in a research note on Wednesday, January 24th. Finally, JPMorgan Chase & Co. boosted their price target on PACCAR from $116.00 to $135.00 and gave the company an “overweight” rating in a research note on Tuesday, March 5th. Eight investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $109.39.

Insider Activity at PACCAR

In related news, Chairman Mark C. Pigott sold 74,347 shares of the company’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $101.93, for a total value of $7,578,189.71. Following the completion of the transaction, the chairman now directly owns 4,843,277 shares in the company, valued at $493,675,224.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP Todd R. Hubbard sold 2,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $106.15, for a total value of $212,300.00. Following the transaction, the vice president now owns 5,726 shares in the company, valued at $607,814.90. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Mark C. Pigott sold 74,347 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $101.93, for a total value of $7,578,189.71. Following the completion of the transaction, the chairman now owns 4,843,277 shares in the company, valued at approximately $493,675,224.61. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 153,496 shares of company stock worth $15,834,812. 2.02% of the stock is owned by corporate insiders.

PACCAR Stock Performance

PACCAR stock traded down $0.57 during trading hours on Thursday, reaching $123.89. 2,280,819 shares of the company were exchanged, compared to its average volume of 2,323,058. The firm has a market cap of $64.92 billion, a price-to-earnings ratio of 14.13, a PEG ratio of 1.92 and a beta of 0.91. The company has a current ratio of 2.40, a quick ratio of 2.21 and a debt-to-equity ratio of 0.54. The stock has a 50-day moving average of $109.94 and a 200 day moving average of $96.87. PACCAR Inc has a 12 month low of $67.48 and a 12 month high of $125.50.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, January 23rd. The company reported $2.70 EPS for the quarter, topping analysts’ consensus estimates of $2.25 by $0.45. PACCAR had a return on equity of 33.17% and a net margin of 13.10%. The company had revenue of $8.59 billion during the quarter, compared to analyst estimates of $8.48 billion. During the same period in the previous year, the company earned $1.76 earnings per share. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. As a group, research analysts anticipate that PACCAR Inc will post 8.13 earnings per share for the current year.

PACCAR Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Thursday, February 15th were issued a dividend of $0.27 per share. The ex-dividend date was Wednesday, February 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.87%. PACCAR’s dividend payout ratio (DPR) is presently 12.31%.

About PACCAR

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Canada, Europe, Mexico, South America, Australia, and internationally. It operates through three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks for the over-the-road and off-highway hauling of commercial and consumer goods.